BE Group Q1 2015 – increased sales and rising daily

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News Desk 2018

Apr 28, 2015 at 2:00 AM

BE Group Q1 2015 – increased sales and rising daily shipments

· Net sales rose by 2 percent compared with the same period last year, amounting to SEK 1,104 M (1,083). · Shipped tonnage and net sales in both Business Area Sweden and Business Area Finland increased in comparison with the same period last year. · The operating result decreased to SEK 10 M (13). · The result after tax improved to SEK 0 M (-5). · Earnings per share amounted to SEK 0.00 (-0.10). · Following the end of the reporting period, Anders Martinsson was appointed as the new President and CEO. · Following the end of the reporting period, the Board of Directors proposed a rights issue for approximately SEK 250 M for approval by the Annual General Meeting. The issue is fully secured. · A new three-year credit agreement, where the total credit facility amounts to SEK 1,000 M, has been signed with existing banks. BE Group's acting President and CEO, Lars Engström, comments on the report: "It is gratifying to be able to show both increased net sales and a rising trend in daily shipped tonnage in the first quarter of the year. Although more could be desired with regard to the market situation, there is clear evidence that we have succeeded in our sales venture and that BE Group is a valued partner in the steel distribution market. The improvement is most evident in the Swedish and Finnish markets, which combined account for 85 percent of our sales. Here, both sales and tonnage increased. The gross margin improved compared with the preceding quarter and, like the operating result, was in line with last year. However, further improvement is needed for the level to be satisfactory. The increase in overhead costs compared with the previous year is a consequence of currency effects. We are also well on the way to implementing a favorable financial structure, partly through the fully secured rights issue of approximately SEK 250 M that the Board is proposing to the Annual General Meeting and, partly, through the new three-year credit agreement. This means we will have a strong balance sheet and that my successor, Anders Martinsson, who will take office by August 3, will have good opportunities to develop the company. The assessment for the rest of the year is that demand in our markets increases slightly." For further information, please contact: Lars Engström, Acting President and CEO tel.: +46 (0)734-11 79 01 e-mail: lars.engstrom@begroup.com Andreas Karlsson, CFO tel.: +46 (0)709-48 22 33 e-mail: andreas.karlsson@begroup.com Today, at 2:00 p.m., Lars Engström and Andreas Karlsson will comment on developments in a press and analyst conference. The conference may be followed via webcast or by phone (see information below). If you wish to participate via webcast and/or ask questions at the press conference, please copy and paste the following link into your web browser to register online. Please be certain to copy the full link. http://edge.media-server.com/m/p/d9cm94im The following telephone numbers can be used to participate in the presentation: Sweden: +46 (0)8 505 56 474 UK: +44 (0)203 364 53 74 USA: +1 855 753 22 30 BE Group, listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group provides efficient distribution and value-generating production services to customers primarily in the construction and engineering sectors. In 2014, the Group reported sales of SEK 4.2 billion. BE Group has about 750 employees, with Sweden and Finland as the largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.

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